TFC Dalston Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03735888 (England and Wales)

TFC Dalston Limited

Abridged Audited Financial Statements

for the Year Ended 31 March 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr H Ucur

Mr E Ucur

SECRETARY:

Mr E Ucur

REGISTERED OFFICE:

Unit 1-8

Centenary Industrial Estate

Jeffreys Road

Enfield

Middlesex

EN3 7UF

REGISTERED NUMBER:

03735888 (England and Wales)

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Property, plant and equipment

4

109,506

101,620

CURRENT ASSETS

Inventories

209,264

173,758

Debtors

772,475

839,931

Cash at bank and in hand

65,994

100,965

1,047,733

1,114,654

CREDITORS

Amounts falling due within one year

239,231

371,349

NET CURRENT ASSETS

808,502

743,305

TOTAL ASSETS LESS CURRENT
LIABILITIES

918,008

844,925

PROVISIONS FOR LIABILITIES

5

12,135

15,983

NET ASSETS

905,873

828,942

CAPITAL AND RESERVES

Called up share capital

6

4

Retained earnings

7

905,869

828,938

SHAREHOLDERS' FUNDS

905,873

828,942

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 December 2018 and were signed on
its behalf by:

Mr H Ucur - Director

Mr E Ucur - Director

1.	STATUTORY INFORMATION

TFC Dalston Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Turnover is recognised when the customer takes delivery of the goods and it is derived from the

ordinary activities of the business.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

20% on reducing balance

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost of stocks is valued using the first in first out stock valuation method. Net realisable value is the

estimated selling price less cost to sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

except to the extent that it relates to items recognised in other comprehensive income or directly in

equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that are

expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable

that they will be recovered against the reversal of deferred tax liabilities or other future taxable

profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held

under finance leases are depreciated over their estimated useful lives or the lease term, whichever is

the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant

period. The capital element of the future payment is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no

material uncertainties that may cast significant doubt on the company's ability to continue as a going

concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2017 - 33 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 April 2017

587,192

Additions

30,243

At 31 March 2018

617,435

DEPRECIATION

At 1 April 2017

485,572

Charge for year

22,357

At 31 March 2018

507,929

NET BOOK VALUE

At 31 March 2018

109,506

At 31 March 2017

101,620

5.	PROVISIONS FOR LIABILITIES

2018

2017

£

Deferred tax

12,135

15,983

Deferred

tax

£

Balance at 1 April 2017

15,983

Credit to Abridged Income Statement during year

(3,848

)

Balance at 31 March 2018

12,135

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

4

Ordinary

£1

4

7.

RESERVES

Retained

earnings

£

At 1 April 2017

828,938

Profit for the year

284,931

Dividends

(208,000

)

At 31 March 2018

905,869

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal ACA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

9.	CONTINGENT LIABILITIES

A group refinance arrangement with the HSBC bank in June 2015, is secured by way of a fixed and

floating charge over all the assets of the company. The balance outstanding at 31 March 2018 is

£11,898,254 (2017 - £11,609,634)

10.	RELATED PARTY DISCLOSURES

Ultimate parent company

TFC Holdings London Ltd is regarded by the director as being the company's ultimate parent

company.

TFC Holdings London Ltd has 100% interest in the issued share capital of the company

The audit fees have been charged and disclosed in the accounts of TFC Holdings London Ltd, the

parent company of the group.

Copies of the consolidated financial statements of TFC Holdings London Ltd are available from

Companies House and the company's registered office.

Directors

Amount due to directors at the balance sheet date was £1,000 (2017 - £58,181).

TFC Camberwell Ltd.